News & Analysis as of

Unfair or Deceptive Trade Practices Compliance Enforcement Actions

Hudson Cook, LLP

CFPB Bites of the Month Webinar Recap: The CFPB and the Dust of June

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In this month's article, we share some of our top "bites" covered during the June 2024 webinar....more

Hudson Cook, LLP

CFPB Takes Action Against Fintech Company for Alleged Withholding of Consumer Refunds

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On May 7, 2024, the CFPB imposed a total of $4.6 million in redress and fines on the Company for allegedly withholding account-closure refunds to its consumers for an unreasonable amount of time....more

Holland & Knight LLP

The FTC Is Regulating AI: A Comprehensive Analysis

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Artificial Intelligence (AI) is rewriting norms and changing the way we interact with the world. It is likely AI will have an outsized impact on every facet of life; this could be the start of the next technological...more

Holland & Knight LLP

Federal Trade Commission's Glass Door into the (Made in) USA

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The Federal Trade Commission (FTC) has increasingly prosecuted more deceptive U.S. origin claims under Section 5 of the FTC Act since the start of the COVID-19 pandemic than in the previous decade. This uptick in...more

Venable LLP

When a Mail Order Rule Case Is Not Just About the Mail Order Rule

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At the height of the pandemic, the Federal Trade Commission took swift action to stamp out scammers and other actors looking to take advantage of - or simply make a buck off - the crisis. One of the early moves it made was to...more

Hudson Cook, LLP

In Times of Peace, Prepare for War

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I just finished up a very active conference season. I’ve been on the “conference circuit” as some would say, since early January. Being on the conference circuit has enabled me to re-connect with friends, colleagues, clients...more

Sunstein LLP

FTC Unfriends Facebook But Wants to Stay in Touch

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The Federal Trade Commission announced its settlement with Facebook on the same day that Robert Mueller testified before the House Judiciary Committee. While this may have been calculated to take Facebook off the front page,...more

Sunstein LLP

Twenty Years Under the Microscope: A Small Business, a Data Breach and the FTC

Sunstein LLP on

James Grago has a nice business going. He runs a website called ClixSense.com that permits users to earn money by completing surveys and watching advertisements. Revenues grew from $6.7 million in 2015 to $9.1 million in...more

Hudson Cook, LLP

Compliance: Setting up a Preventative Maintenance Compliance Budget

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Prioritizing compliance with federal and state law may be the last item on your never ending to-do list. Most days, you have bigger fish to fry - you want to increase sales and decrease overhead. However, a small investment...more

The Volkov Law Group

US Brings First Criminal AML Case Against Broker-Dealer

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In a stark message, Justice Department prosecutors have brought the first criminal case for anti-money laundering violations against a broker-dealer. ...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Consent Orders Serve as a Reminder to Mortgage Industry on Advertising Practices

A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more

Dechert LLP

FTC Raises Maximum Civil Penalty to $40,000; HSR Act and Other Continuing Violations May Incur Civil Penalties of Over $14 million...

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Key Points: The FTC is raising the maximum civil penalty that may be imposed for certain violations from $16,000 to $40,000. For HSR Act violations, where penalties may be imposed for each day the person is in...more

BakerHostetler

FTC Launches “Operation Collection Protection” to Target Debt Collection Practices

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On Wednesday, November 4, the Federal Trade Commission announced the largest-ever-coordinated federal-state enforcement initiative targeting allegedly deceptive and abusive debt collection practices. The initiative,...more

Manatt, Phelps & Phillips, LLP

Add-On Products Add up to $63M Settlement With FDIC

Why it matters - Credit card add-on products were the subject of a recent enforcement action brought by the Federal Deposit Insurance Corporation (FDIC) against Comenity Bank of Delaware and Comenity Capital Bank in...more

MoFo Reenforcement

One-Two Punch: CFPB Indirect Auto and Add-On Product Orders

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The CFPB announced two new enforcement action settlements on September 28: one for alleged discriminatory auto loan pricing and the other for alleged deceptive credit card add-on product marketing practices....more

Ballard Spahr LLP

D.C. federal court dismisses Morgan Drexen lawsuit against CFPB

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A Washington, D.C. federal district court has dismissed the lawsuit filed by Morgan Drexen against the CFPB that alleged the Bureau’s structure was unconstitutional because it violated the Constitution’s separation of powers....more

Morrison & Foerster LLP

How to Avoid Enforcement Actions for Unfair or Deceptive Acts and Practices

‘‘Happy, Happy, Happy’’ is the phrase used by that towering philosopher Phil Robertson, from the TV show Duck Dynasty. You can be sure no bankers utter that phrase whenever a regulatory agency first breathes a word about...more

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